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2019-01-09 07:28:54

SPX

S&P 500

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, SPY

SPDR S&P 500 ETF Trust

$256.59

2.31 (0.91%)

07:28

01/09/19

01/09

07:28

01/09/19

07:28

Deputy AG Rod Rosenstein could to leave in 'weeks,' AP reports

Deputy Attorney General Rod Rosenstein plans to leave his position soon after William Barr is confirmed as attorney general, The Associated Press reports, citing a person familiar with the plans. Barr has a confirmation hearing before the Senate Judiciary Committee next week and could be confirmed within weeks. Rosenstein has been overseeing the day-to-day operations of special counsel Robert Mueller's probe into Russian interference in the 2016 election and contacts with the Trump campaign. Reference Link

Following reports that the CFO of Huawei was detained in Canada on December 1 due to an U.S. extradition request over Iran sanctions, Deutsche Bank analyst Zhiwei Zhang lowered his probability of the U.S. and China reaching a trade deal by March 1 to 30% from 40%. The arrest is a "clear signal that the trade war is escalating to a new level," Zhang tells investors in a research note partially titled "Huawei case is a big deal." U.S. business interests in China "face higher risk than before," says the analyst. He points out that Huawei has been widely recognized as one of the most successful technology companies in China.

Morgan Stanley equity strategist Michael Wilson believes the S&P 500 could trade to 2,800-2,825 in the "very near-term," but is recommending investors use such a move higher to reduce portfolio beta and risk as he continues to expect an "aggressive rotation" toward defensive sectors at some point. Given his view of a growing probability for sustained defensive leadership, Wilson downgraded Small caps to equal weight and Technology to underweight. He also upgraded Consumer Staples and Telecom Services to equal weight from underweight.

04/02/18

MSCO

04/02/18NO CHANGEMSCO

Utilities view lowered to Equal Weight at Morgan Stanley

Morgan Stanley equity strategist Michael Wilson said he thinks many of the risks facing the market have now been priced in and he sees value in the S&P, which is currently at the low end of his target near-term range ahead of what will likely be a strong Q1 earnings season. However, he is moving the Utilities sector to Equal Weight from Overweight, stating that this is not a sell call for those who recently bought the stocks but that a tactical overweight after recent relative outperformance no longer makes sense.